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The Real Deal NYC

Overseas lenders held $72B worth of US commercial loans in Q2

Foreign banks held $71.6 billion worth of commercial real estate loans backed by U.S. properties during the second quarter of the year, a sign many point to as proof there’s still confidence in the overall economy and market fundamentals. That figure is up from $59.3 billion in the second quarter last year and $38.3 billion at the same point in 2015, according to data from Trepp reported by the Wall Street Journal. Overseas banks have […]

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GFP lands $75M to refi Far West Side building

GFP Real Estate, formerly Newmark Holdings, just closed on a $75 million loan to refinance the Film Center Building in Hell’s Kitchen. Capital One provided the new financing for 630 Ninth Avenue, a 14-story office building between West 44th and 45th streets, representatives for GFP said. Aaron Gural and his partners purchased the building in 1979, property records indicate. His son, Jeff Gural, and grandsons Eric Gural and Brian Steinwurtzel, now run GFP. GFP recently […]

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Battery-operated homes in the US may soon be a thing

From TRD Miami: Developers are getting ready to cut the cord on electricity, and a battery may take its place, according to the Wall Street Journal. Homes are incorporating batteries that resemble modern versions of outdoor neighborhood junction boxes, but these can be put inside the house, according to the Journal. Up to 4,000 energy-efficient homes planned by developer Arizona Eco-Development and built by home builder Mandalay Homes will use 8 kilowatt-hour batteries from German […]

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City pols really want to slow down controversial Two Bridges towers

A pair of local politicians want to slow down three tall and controversial projects planned for the Two Bridges neighborhood. Manhattan Borough President Gale Brewer and City Council Member Margaret Chin want to make the city’s land use review process apply to the incoming residential buildings, which would lead to feedback on them from Brewer’s office and the local community board, according to Politico. The process typically leads to developers agreeing to community benefits to […]

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A room with a view: Pricey condos overlook public sex in Harlem park

In New York City, $1 million can get you a condo with sweeping views of the changing fall foliage and also people having sex in public.

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Regus re-ups at 5 Penn Plaza

Global office provider Regus plans to stay at 5 Penn Plaza for at least the next decade. Regus renewed its lease at the 26-story building, where the company occupies 60,000 square feet across the entire 19th and 23rd floors, the Commercial Observer reported. The asking rent for the space was $68 per square foot. CBRE’s Peter Turchin, along with Jason Pollen, Dave Caperna and Hilary Whittier, represented landlord Haymes Investment Company in the deal. JLL’s […]

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“It’s a gated community”: Private driveways are back at Manhattan’s luxe condos

Private driveways and gated courtyards are back en vogue at luxury condominiums in Manhattan.

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The Real Deal LA’s fall issue is live!

From TRD LA: Namaste and welcome, dear readers. You are powerful. In fact, you are power. You are successful. In fact, you are success. You are tapped into the well of abundance…And you will sell that house! Now, take a deep inhale, and exhale any limiting beliefs or excuses. Raise your arms to the sky in gratitude and then reach down for this issue, turning to page 26 for an in-depth, behind-the-scenes look at the shockingly lucrative real estate […]

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The Closing: David Greenfield

From  the October issue: City Council member David Greenfield represents Brooklyn’s 44th district, which spans the predominantly Orthodox Jewish neighborhoods of Midwood and Borough Park. Since 2014, he has chaired the council’s land use committee, meaning that NYC’s powerful developers need to win his approval for many of their megatowers. Most recently, Greenfield, 39, presided over the rezoning of Midtown East and was a key interlocutor in negotiations for Mayor de Blasio’s controversial Mandatory Inclusionary […]

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These were the largest Manhattan real estate loans recorded in September

The $1.6 billion in construction financing issued to Related Companies for 50 Hudson Yards was the biggest loan for September in Manhattan, according to data analysis from The Real Deal. Many of the loans were for refinancing, but there were also a number of construction loans. Bank of the Ozarks, one of the most active lenders in the city right now, provided financing to the Chetrit Group for its planned hotel on West 34th Street, and […]

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